1. National income in India is estimated by ?

[A] Reserve bank of India

[B] Ministry of finance

[C] Central statistical organisation

[D] Planning commission of India

View Answer

ANSWER: Option(C).


MEMORY: Central statistical organisation is a governmental agency in India and is responsible for statistical activities in India. It is loacted in Delhi.

2. Who had first estimated national income in India ?

[A] Jawahar lal nehru

[B] Dadabhai naoroji

[C] Dr. B.R. Ambedkar

[D] R.C. Dutt

View Answer

ANSWER: Option(B).


MEMORY: Dadabhai naoroji is also known as “Grand Old Man of India”. He was an Indian scholar, trader, and politician.

3. The primary source of national income in India is ?

[A] Transport sector

[B] Manufacturing sector

[C] Agriculture sector

[D] Tourism sector

View Answer

ANSWER: Option(C).


MEMORY: Agiriculture sector is still the primary mainstay since independence and it contributes about 17% to the total GDP and provides employment to over 60% of the total population.

4. Agriculture income in India is calculated by –

[A] Export method

[B] Import method

[C] Input method

[D] Output method

View Answer

ANSWER: Option(D).


MEMORY: No memory available.

5. The term ‘GNP’ stands for –

[A] Gross Net Product

[B] Gross Net Profit

[C] Gross National Product

[D] Gross National Profit

View Answer

ANSWER: Option(C).


MEMORY: No memory available.

6. Which sector of Indian economy keep highest achievement in the GNP ?

[A] Tertiary sector

[B] Public sector

[C] Primary sector

[D] Both [A] and [B]

View Answer

ANSWER: Option(A).


MEMORY: Tertiary sector of Indian economy includes Transport, communication, Services, and Business.

7. National Income is the measurement of ________ in a given time period.

[A] Purchase power of economic system

[B] Production power of economic system

[C] Both [A] and [B]

[D] None of the above

View Answer

ANSWER: Option(B).


MEMORY: No memory available.

8. Per capita income of a country is obtained from ?

[A] Total national revenue

[B] Population of a country

[C] National income of a country

[D] Both [B] and [C]

View Answer

ANSWER: Option(D).


MEMORY: Populationa growth and national income are the two important factors in determining per capita income of a country.

9. GNP = ______ + X – M ?

[A] NNP(MP)

[B] GDP(MP)

[C] NNP(FC)

[D] GDP(FC)

View Answer

ANSWER: Option(B).


MEMORY: GNP = GDP(MP) + X – M , where, GNP = Gross national product , GDP(MP) = Gross domestic product at market price, X = Income earned and received by nationals within the boundaries , M = Income received by foreign nationals within the country.

10. Depreciation is equal to –

[A] Net national income – Net foreign income

[B] Gross national product – Net foreign income

[C] Net national product – Gross national product

[D] Gross national product – Net national product

View Answer

ANSWER: Option(D).


MEMORY: No memory available.

11. Economic growth of a country increases with the increase of ?

[A] Gross domestic product

[B] Gross national product

[C] Per capita income

[D] Net national product

View Answer

ANSWER: Option(C).


MEMORY: Per capita income is also a vital indicator of how economic growth of a country is improving/declining.

12. Which of the following countries has the lowest GDP per capita ?

[A] India

[B] Sri lanka

[C] Indonesia

[D] China

View Answer

ANSWER: Option(A).


MEMORY: No memory available.

13. The term “NNP” stands for –

[A] Net national product

[B] Net national profit

[C] Net national product

[D] None of the above

View Answer

ANSWER: Option(A).


MEMORY: No memory available.